Palantir Stock Plunge Highlights Tech Sector Valuation Concerns
Palantir Technologies shares tumbled 9% despite record quarterly revenue and raised guidance, sparking debate about AI stock valuations. The data analytics firm's 150% year-to-date gain prior to the selloff had placed it among the S&P 500's top performers.
Wall Street analysts remain divided, with bulls praising the company's AI platform adoption while bears warn of stretched valuations. The pullback coincides with broader market jitters about tech sector frothiness, amplified by cautionary remarks from Goldman Sachs and Morgan Stanley executives.